How to compete with Amazon

By WinWeb.com

Recent research by the IMRG – the UK’s association for online retail – suggests that the online retail sector is set to continue to grow in 2013 and that the High Street will face further hardships.

There’s no denying that retail is undergoing a fundamental change at the moment. 2013 has already seen a rocky start for the High Street with several major national retail outlets going bankrupt.

If you are a High Street Retailer chances are that you are facing a lot of uncertainty about the future of your business right now. You may be thinking – how can I possibly expect to compete with Amazon?

Well, the answer is, you CAN. You just have to be smart about it and follow the example of large retailers like Argos which have been forced to adapt their business model in order to survive.

The trick is to integrate your physical business with your online presence to entice people to visit your store in person. For example, you could offer special discounts via your website that can only be redeemed in-store.

One advantage your business will always have over internet retailers like Amazon is that customers want to see the products they are buying, perhaps even touch and feel them. If it is an electronic device they will also probably want to see it in action.

The problem the retail giants that went under were having was that people were coming into their stores to have a look around and then going home and ordering from an online retailer instead.

Often their retail presence was so far removed from their online presence that they were looked upon as two different entities, so the key thing for you to remember is that synthesis between your online and offline business is essential.

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